Debt Settlements work? I am about to start working witha company but need feedback, www.debtfreeleague.com?
May 10, 2010 by admin
Filed under Debt Settlements
Need information about debt settlement companies please
Related posts:
- How do I know if the debt settlement company I’m working with is competent?
- I need some answers about debt settlement and companies who do debt settlements.?
- How can I negotiate my own debt settlements with creditors without using a “debt settlement” company?
- Debt Settlement Company Myths
- Debt Settlement Company
RUN!!! Debt settlement companies typically take your money and let all your accounts go 90 days past due. Then they offer lowball settlement under threat you will file bankruptcy. Not only does this trash your credit, but most credit card companies refuse to play and will immediately sue you. The debt settlement company won’t be helping with the lawsuit.
Credit card companies are unlikely to settle for less than full balance unless you have some permanent financial change, like medical disability.
I agree in part with the prior post. I checked the website myself and it looks real. I have worked with two debt settlement companies so far. One of them was unpleasant experience. the second one was good. I do not remember the name. I think the not good was something like US Financial Management. the good one was a debt attorney in Texas. It worked. I know now, that i can do it myself I did not want to deal with creditors.
TIPS TO FIND OUT ABOUT SETTLEMENT COMPANIES:
*PRICE, GUARANTEE AND DISCLAIM.
Its very weird when a sales person will tell you about lawsuits and negative stuff. Call them and ask about NEGATIVE STUFF if they avoid the topic, HUNG UP!
GOOD LUCK.
I agree with some of the statements made above.
There is risk of being sued.
Debt Settlement does work for some people but not all
The shorter the term the less the risk of being Sued
Do your research.
Debt settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.
As long as consumers continue to make minimum monthly payments, creditors will not negotiate a reduced balance. However, when payments stop, balances continue to grow because of late fees and ongoing interest.